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of <h1>Interest Payments under Land Acquisition Act Subject to TDS as per Section 194A of Income-tax Act.</h1> Interest payments made under the Land Acquisition Act are subject to section 194A of the Income-tax Act, 1961, which requires tax deduction at source. This applies to entities other than individuals or Hindu Undivided Families responsible for paying interest income, excluding 'Interest on securities.' Such entities must deduct tax at the time of credit or payment, and remit it to the Central Government. Failure to comply can lead to penalties under sections 200 and 201, and imprisonment under section 276B. This requirement affects State Development Authorities, Housing Boards, and Public Works Departments disbursing compensation for land acquisition.
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